Is Bingham Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bingham Township has remained a Seller's Market.
Housing Prices in Bingham Township, MI
How much do homes in Bingham Township, MI cost?
Median Sold Price
$380,000
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bingham Township was $380,000 in May 2024, up 19.9% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $225K | - | N/A |
2 Bedrooms | $324.9K | $349.9K | +7.7% |
3 Bedrooms | $270.4K | $360K | +33.1% |
4 Bedrooms | $345K | $415K | +20.3% |
5+ Bedrooms | - | $767.5K | N/A |
Summary: Bingham Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 33.1%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Ovid Township | $160K | $195K | +21.9% |
Bingham Township | $317K | $380K | +19.9% |
Saint Johns | $205K | $210K | +2.4% |
Greenbush Township | $252.5K | $225K | -10.9% |
Housing Supply in Bingham Township, MI
How many homes are available in Bingham Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 13 | +85.7% |
Summary: The Bingham Township real estate market had 13 homes for sale in May 2024, a 85.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 4 | 8 | +100.0% |
4 Bedrooms | 1 | 2 | +100.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Bingham Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
0 | 3 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Bingham Township in May 2024, up by 100.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Bingham Township, MI
How long does it take to sell a home in Bingham Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
3 Days | 11 Days | +277.8% |
Summary: Homes in Bingham Township had an average of 11 days on market in May 2024, up by 277.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Bingham Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.